At last, some unequivocal good news: Bank of America Merrill Lynch may be cutting investment banking jobs as part of its New Bac Phase 2 cost cutting initiative, but in London it is also covertly hiring.
Figures from research firm IMAS reveal that both Bank of America Securities and Merrill Lynch International (registered as separate entities), were among the biggest hirers in London last month. Some of these hires were predictably this year's analyst and associate class, but a lot were experienced professionals hired from rival firms.
Our own research reveals that Bank of America Merrill Lynch added the following 24 people to the FSA register in August. Many have come from banks which are cutting back, like Nomura or RBS (although these people may not have fallen victim to the cutbacks.) Say what you like, BAML is still hiring in London and seems to have been strengthening in everything from FX sales to equity research.
1. Mrs Lesley Margaret White
Lesley White joined as EMEA GTS product executive for corporates.
2. Mr Milan Tomic
FX Hedge fund sales, formerly at Morgan Stanley
3. Mr Vishal Khiroya
A credit trader, formerly at BNP Paribas.
4. Mr Oliver William Blower
Came from BarCap – appears to be an OTC derivatives clearing specialist
5. Mr Diego Actis
Emerging markets trader. Last registered with the FSA at Deutsche in 2006.
6. Mr Mehdi Mohammed Barouti
Rates trader – previously an M&A analyst in Morocco – although was a global markets analyst at Merrill Lynch in London for three months on the rates desk in 2011. Possibly an analyst.
7. Mr Tariq Lawrence Haider
Former head of the options desk at SocGen
8. Mr Hengjui Tsao
Came from Barclays Capital, where he worked for 4 years. Structured funding/CVA trader.
9. Mr Felipe De Vengoechea
Previously of RBS, where he was a director of leveraged credit sales. Joined BofA in the same position.
10. Miss Saraniya Thirunathan
Came from Credit Suisse – FX sales.
11. Mr Christopher William Clive Lees
Hired from Citi. DCM professional.
12. Mr Kamaru Kenneth Erumusele Alofoje
Experienced associate – emerging markets structuring. Previously an associate in prime brokerage at JPMorgan.
13. Mr Laurent Haim Benarroch
Hired from RBS. Derivatives.
14. Mr Hamish William George Clegg
Previously executive director at JPMorgan. Works in specialist oil and gas sales
15. Mr Sem Hamzaoui
Previously equity derivatives analyst at Nomura
16. Mr Akshay Sawhney
Came from Deutsche, corporate equity derivatives origination
17. Mr Kartikeyan Swaminathan
Equity analyst, mining and steel. Last registered at Goldman in November 2011.
18. Mr Arzhang Kaynama
Precious metals trader, previously of Credit Suisse
19. Mr Simon Thomas Fothergill
Previously of Citigroup. Oil trader.
20. Mr Alexander Sacheverell Wilmot-Sitwell
New head of Europe and emerging markets, hired from UBS.
21. Mr Michael Georges Sebastian Kagohiros
Joined from JPMorgan. Equity research – aerospace and defence.
22. Mr Justin Elfyn Morris
Last worked at RBC.
23. Sherri Malek
Last registered at Goldman Sachs in July 2007. Equity research associate. Studied at Imperial.
24. Mr Riadh Koubaa
Director of execution services, hired from Credit Suisse.